The kwacha rose around 0.6% against the dollar following the announcement.

Globally, copper prices hit a six-year low in August. Growth in demand for the metal has slowed as China looks to reposition its economy towards consumer-led growth and away from exports and investment.

Zambia’s kwacha has been hit in the past year, falling more than 50% against the dollar, and around the same against the pound.

Food prices have soared in the country, and power shortages have also been triggered by low water-levels in Lake Kariba, where hydropower plants supply much of the country’s electricity.